SEOUL, March 9 (Korea Bizwire) — As the economic downturn persists, South Korea’s luxury market is witnessing a shift in consumer spending habits, with high-end cosmetics sales outpacing those of expensive fashion items like designer handbags and apparel. According to the retail industry on Sunday, luxury beauty brands such as Prada, Hermès, and Givenchy saw their [...]
SEOUL, March 9 (Korea Bizwire) — what would be the most appealing headline for this (The South Korean steel industry may be able to clinch new opportunities if it takes part in the Alaska gas pipeline project led by the Donald Trump administration, despite the envisioned 25 percent U.S. tariff on all steel imports, experts [...]
SEOUL, March 9 (Korea Bizwire) — The first-ever discussions on global 6G technology standards are set to take place in South Korea from March 10 to 14, marking a critical milestone in next-generation telecommunications. The Ministry of Science and ICT announced on Sunday that the 3rd Generation Partnership Project (3GPP)—the international body responsible for mobile communication [...]
SEOUL, March 8 (Korea Bizwire) — As Europe navigates a rapidly changing security landscape, South Korean Foreign Minister Cho Tae-yul highlighted growing European interest in deepening cooperation with Seoul. Speaking to reporters in Paris on March 7, Cho emphasized that European nations increasingly recognize South Korea’s strategic value, particularly in security and defense. His remarks followed [...]
SEOUL, March 8 (Korea Bizwire) — A growing wave of media attention is focusing on ‘Daechi Moms,’ a term referring to ambitious South Korean parents who dedicate their lives to their children’s elite education. From viral YouTube skits to TV documentaries and drama series, these mothers—often depicted wearing luxury fashion while micromanaging their children’s academic [...]
SEOUL, March 8 (Korea Bizwire) — As concerns grow over potential U.S. auto tariffs under Donald Trump’s administration, executives and union leaders from GM Korea are set to visit General Motors’ headquarters in the United States to discuss the company’s future operations. According to the GM Korea chapter of the Korean Metal Workers’ Union (KMWU), representatives from both [...]
SEOUL, March 7 (Korea Bizwire) — A heated debate has erupted over South Korean discount retailer Daiso’s sale of low-cost health supplements, as pharmacists oppose the move while consumer groups argue it infringes on consumer rights. The Korea Consumer Organizations Council issued a statement on March 7 condemning the pharmacist associations’ objections, stating, “Health supplements are [...]
SEOUL, March 7 (Korea Bizwire) — Amid a prolonged economic downturn, a vast majority of South Korean businesses anticipate a financial crisis in 2025, according to a new survey by the Korea Employers Federation (KEF). The survey, conducted in January among 508 domestic companies with at least 50 employees, revealed that 96.9% of respondents expect an [...]
SEOUL, March 7 (Korea Bizwire) — A new government survey has revealed the stark economic reality faced by artists in South Korea, with average annual earnings from artistic activities amounting to just 10.55 million won, highlighting the urgent need for more stable income structures in the arts sector. According to the “2024 Survey on Artists’ Status” [...]
SEOUL, March 7 (Korea Bizwire) — For the first time, Lamborghini has incorporated a battery from South Korea’s LG Energy Solution into one of its high-performance plug-in hybrid supercars. The announcement was made by Lamborghini Chairman Stephan Winkelmann during the South Korean launch event for the Temerario, the latest addition to the automaker’s electrified lineup. [...]